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Bookmakers (manager)
Setting up a bookmakers (betting shop) within the game is a risky but potentially very exciting business. When you think about how much money casinos/bookmakers in real life, taking advantage of people's misfortune in the betting world seems extremely lucrative. However, within MMA Tycoon, you're likely to have slightly less money than the real life tycoons, so you'll probably be working with a smaller margin for error... With that said, be very careful with how thinly you spread your finances. Starting up Unlike the other companies, you are allowed to create a bookmakers even if you have another company. On the negative side, you may not use a loan to set up a bookmakers! Unlike other companies, you could theoretically lose all your money through no fault of your own if you run a bookies, so for that reason you must create a bookies using your own manager funds so there is no chance of you losing your VIP status due to your bookies going bankrupt - the worst that can happen is you lose the money you put in. Basic Settings There are a number of settings to be set by the bookmaker owner. Bookmaker stake This is the most important setting for you to get right. This is your profit margin in a perfectly even and predictable world. For instance, if fighters who are meant to win 30% of the time, actually did win 30% of the time, plus users bet 50% on one fighter and 50% on the other, you would take home this percentage of total income. Put simply though, the higher the figure, the less risk you are undertaking as a bookmaker. However, it is a double edged sword because the higher this figure, the less appealing your odds will be to your customers. When you edit your bookmaker stake it will change the odds displayed automatically to include this value. ENTER AS A NUMBER ONLY. SO IF YOU WANT A BOOKMAKER STAKE OF 7%, JUST PUT 7 Logo You can upload a logo for your bookmakers. Please keep in clean and for best results, upload a jpg or gif measuring 205(wide)x175(high). Odds display You can set your default odds display to either American or Decimal. Users will be able to set their own preference if they would rather display the other method. For more information on how to calculate / understand the different types of odds, click here. Current balance This is your current bank balance including pending bets. BE VERY CAREFUL when analysing this number. Don't consider it "money in the bank" because as a bookmaker you are also liable to incur large losses from time to time and if that happens you could be out of funds in an instant! Try and make sure you keep a nice buffer. Pending bets If someone places a bet at your bookies, it is considered "pending" until an event result has been inputted, either automatically by the site coding, or by admin (in the case of real world fights). Potential losses This number indicates the loss you would make if every bet placed was won by the user. Of course, if you have people betting on both sides of a fight (e.g. some people bet on fighter A and some bet on fighter B), then you couldn't ACTUALLY lose both sides of the bet but we use this number as an indicator of how much cash you have floating about as bets. We use this number to automatically cap the amount of bets you are allowed to take at any one time. Your potential losses + buffer cannot exceed the current balance. Max bet This is the maximum that any one user can bet on each fight. You should set this figure at something appropriate to your company’s balance. Buffer The system will automatically calculate your maximum potential payout at any time (i.e. if every single pending bet won). If this ever exceeds the level of your current balance, no more bets will be accepted. The buffer is an extra bit of insurance on top of that. If you set a buffer at $1000, no more bets will be accepted $1000 earlier than in you set the value to $0. Website You may link to your website from here. If you run a real life bookmakers you may link to the site from here. However, in accordance with our terms and conditions, you must create an affiliate account (if your site has an affiliate program) for MMA Tycoon and email the login and password details to admin@mmatycoon.com. Real life events Real life events are made available by the game admin. A list of all available events will be displayed at all times - all you need to do is click the corresponding button for that event and it will be added to your list of events. In game events You can offer odds on in game events by importing them using the event ID number. You can find this number on the event's page (to find a list of upcoming events go to the news and events page or perform a search for upcoming events. You may not offer odds on QFCs but you can offer odds on all other events. Adding and editing events You may add up to 5 in game and 3 real events at any one time. With both real life and in-game events, the system will import a base set of odds. You may then edit these odds as significantly or as subtly as you wish. Once you have set your odds, you can choose which fights you wish to offer odds for. Of course, you can offer all fights on a card, or just a selection. How base odds are calculated For real life events, we use real betting odds as offered by Bet on Fighting, Sportbook, Bet US or another suitable bookmakers if any of these sites do not offer odds on the fights in question. For in game events you are left to calculate the odds yourself. This is what will separate the men from the boys! Scouting We provide you with two quick link tools to scout fights and decide upon fight odds. Click the graph or the binoculars to view the fight stats and scout tool previews. Quick summary - if you think someone is going to win, then you want to give them the negative number with American odds (e.g. -200 is a favorite over a +150), or using decimal odds, the lower the number, the more of a favorite that fighter is. Results You don't need to input any results as a bookmaker owner - all that is done for you. For in game events this is all calculated automatically and for real life events, the game admin will input the results and your bookmakers will be updated automatically. Fight fixing As with real world betting, there is always the temptation for unscrupulous individuals to fix fights and rob you of your hard earned dollars. If you run a betting shop and you suspect other users of fight fixing, post your suspicions on the forum in the fight fixing discussion forum. Withdrawing money to your managerial account You may withdraw money to your managerial bank account, so long as you leave enough money in the company bank account to cover loans and the maximum potential loss you may incur from your pending bets. Event summaries/history After an event goes ahead, you will get a full breakdown of profit / loss from each fight. Pruning - Fights which have no bets placed on them (once the fight has happened) will be pruned once per day to tidy things up. - In game events are stored on the manager and public side for 2 weeks before being cleared. - Real life events are stored for much longer but may be cleared after a couple of months depending on the size of the database.